SMM Tin Price Forecast (Oct. 29- Nov. 2)

SHANGHAI, Oct. 29 (SMM) – Last week, spot tin prices continued to fall with SMMI.Sn down 3.08% or RMB 4,750/mt. Last Friday, the lowest tin prices in Shanghai dropped to RMB 147,500/mt. Smelters were unwilling to move goods due to declines in prices, while downstream enterprises only purchased on an as-needed basis and kept inventories low to avoid risks. The falling prices raised wait-and-see sentiment in the market. Goods circulating in the market were mainly from Yunnan and Jiangxi. LME tin prices stopped decreasing later last week, boosting market confidence, reflected in increased inquiries, but trading remained thin.